FINANCIAL NEWS

Chinese firm to launch USD2.3bn methanol-to-olefins project in Oman

22 Apr 2017

(MENAFN) China-based Minguyan Group Co. aims to launch a major methanol-to-olefins plant alongside a giant green field methanol scheme at the China-Oman Industrial Park.

Furthermore, the plant will be launched with an investment of almost USD2.3bn, while it will rank amid the largest petrochemical schemes in the region with a capacity of 10mn tons.

Additionally, development of the venture is planned in stages, with the promoters looking at a capacity of 1.8mn tons of gas-methanol and methanol-to-olefins in the first phase.

Meanwhile, natural gas will be used as feedstock in the production of methanol, with polyethylene and polypropylene also envisioned as end products along with methanol and MTO.

MENAFN2204201700450000ID1095408922

MENAFN2204201700450000ID1095408922

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